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Permission and the relationship economy

Data, consent and value – the new retail bargain

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Retailers want to gain a better understanding of individual customers, moving on from the single view to a position of being able to hold a one-to-one conversation that will benefit both them and the customer. Real time, right channel, contextual interactions are possible, but not easy to achieve. At the heart of this is zero party data, information which customers give willingly to the retailer about themselves. Data that the retailer can use to build a better picture of the consumer, their preferences and motivations. In exchange, the consumer can see a real benefit receiving a better service, product, price or experience.

 

 

 

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In this white paper, produced by InternetRetailing in association with our partner Tealium we explore the concept of zero party data, consent and the value exchange.

 

We investigate: how marketing has moved from ‘spray and pray’ to targeted marketing, but still not achieved a full, warm welcome into the inboxes of customers.

 

We talk to retailers who responded to our survey to gather their take on the topic, asking what extent their communications with customers is based upon current, verifiable consent.

 

Included in this white paper:

  • The sources of additional data, signals, interactions, forms of permission that a customer can give to a retailer
  • The practicalities of this zero party data-based approach and the demands it places on people, processes and technology.
  • The route to genuine permission-based retailing
  • The results of our survey
  • 3 in-depth interviews looking at Stitch Fix, Orange and The Entertainer
  • 10 takeaways for moving to a consent-based approach

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